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  3. tony owns 40% of the stock of avengers, inc, with

Tony owns 40% of the stock of Avengers, Inc, with a FMV of $400,000. His...

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Accounting

Tony owns 40% of the stock of Avengers, Inc, with a FMV of $400,000. His basis in the stock is $225,000. In exchange for of his stock, he receives property from Avengers with a FMV of $200,000. Avengers had a basis in the property of $160,000.

  1. What are the tax consequences, if any, to Tony? (4 points)

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